Outlook 2013: Hope Springs in Housing Market

1/8/2013 11:22AM

After years of slides, the U.S. housing market is showing signs of stabilization and sustained growth. Quicken CEO Bill Emerson joins Markets Hub to discuss what to expect in 2013 from the housing sector. Photo: AP.

This transcript has been automatically generated and may not be 100% accurate.

... since the housing bubble crashed in oh five oh six oh seven there been a lot of false dawns people predicting that as the market hit bottom is turning red from that when we were herded almost yearly ... his twenty thirteen though is that the year possibly as the housing market bottomed out ... to be turning around to talk about rate now when with a quick moves CEO Bill Emerson ... building to come in on the show to include the vehicle body in addition vantage point to the housing market on the scene that you guys are Big repair a mortgage on ... one EU seen in your business in terms of how the housing market looks for ... well I think you have to look into her for wizard's a lot of demand right now for refinancing hit the streets are very low of the park program this this engaging people up as well ... a man of the purchase of the more they read what's happening with home prices ... what were really saying the stabilization in home prices nationally um you have a few pockets of areas were starting to get multiple offers ... so I think that the good news the recent stabilization I would not tell you the two thousand thirteen is gonna be the score back of the of the housing market ... um they're still too much uncertainty from a consumer's perspective that a lot of uncertain era with the lending regulations are to be ... aam can intimidate jobs are still a big driver ... of what's gonna happen on the housing upside of the things and so as result of that that are still a lot this coming in the mix ... was good to see stabilization and I do think will start to see a slow increase ... which is probably more palatable in in in in a normal market and ... how much of it out easiest rates extremely low life time was for us really ... I how much of the business is the refinancings compared to how much of is his new mortgages Oval white shares refinancing the no two ways about that and again and I just haven't really seen a big movement in the produce market ... on even some of the persons that are taking place there still yet investors are looking at the picking of homes um but you still have folks that are ... first-time home buyers that are trying to figure out whether you qualify you got move up buyers are still stock or else it underwater so ... there's still some things that have happened ... for the purchase of more to come back but ... no regard isn't that what you have a home that that sell your fig about a refinancing or if you want to buy a home adult ago but never been a matter of time into should restore Primo and refinance at ... home affordability is an all-time high when you put those two things together ... this is the kindest are looking for that home is really interested and think and ... up and move forward now you mentioned the others this the HARP program has led government programs and the Fed obviously keeping interest is very low through the lot of government involvement in the housing market right which is sorta helping estate license ... how much of it don't you see on the other side of it ... how much it is a situation of ... the housing market would take off until you are better jobs market ... their wage growth and I mean until the until the wheels are organic side of the bride takes all ... the episodes on Wednesday that ... out when you think is is more for an answer in organic government intervention force for organic natural housing recovery and economic growth ... I think it's more important if your organic side of things moving and getting economic growth taking place again it's a little the chicken and red people talk about the economy coming back housing has always been a big piece of that which one comes first ... so the fact that we're seeing a stabilization and his good side ... what for to really take off folks have to get back to work ... on they have to understand what they can afford ... and then you know what would people talk about her being tired right now ... on the qualified mortgage rule supposed to come out next couple of days that will define the Lending landscape as we look into the future so ... that are still a bit of uncertainty and fear all my rehearsal for the euro ... is this the right time are rates low enough alma will home prices continued to allow for will they come back down to zero double that of all things that are out there ... aam and so you know that's discuss how we see it from from the perspective and how did I mean is nice to come on the crescendo crippling future business there ... as evidenced in business your online mostly rate how is your business here in Seoul ... so our business with a record year in two thousand twelve ... we did thirty billion in an origination calls volume and two thousand eleven we did seventy billion in two thousand twelve ... so our business has been continuing to grow ... all bets are a result of a few things on one reads them all to help people but the market or shift and change the law of large employers to change the focus on mortgage which has opened up market share opportunities ... because we have a centralized platform technologically driven process driven with award-winning quiet service ... we have been able to gain market share with more than double their market share in two thousand and twelve and we all say the reason why the shifter changes we go into two thousand and thirteen so ... far are of model and we we do things of that that's a bit of ribbon officially ... on our pillars and CEO of Quicken Loans appreciate time star ...